Philadelphia Fed: non-mfg index rebounds in Feb.
The region's services sector accelerated, as the general business conditions index rebounded to 10.0 in February from 1.0 in January, this month's Federal Reserve Bank of Philadelphia non-manufacturing Report on Business, released Tuesday, indicates.
At the company level, the general business activity index soared to positive 29.2 from negative 0.2.
The prices paid index was 16.3, down from 26.3 last month, while prices received dropped to 9.1 from 14.9.
New orders index improved to positive 16.5 from negative 3.1, sales or revenues climbed to 19.4 from 3.9, the unfilled orders index slid to 5.0 from 5.5, the inventories index declined to 3.0 from 6.5, the number of full time employees index soared to 22.0 from 9.4, and the average employee workweek gained to 18.5 from 5.2.
The six months from now regional general business conditions index grew to 27.4 from 10.3, while the company general business conditions index surged to 58.9 from 22.9.